Nordic Paper is to pass into Chinese ownership. Anhui Shanying Paper is set to acquire the Swedish company which produces kraft and greaseproof paper.

Swedish kraft and greaseproof paper manufacturer Nordic Paper announced that Chinese paper producer Anhui Shanying Paper had signed an agreement to acquire 100% of the shares in the company. The sellers are Specials Situation Venture Partner III and Petek GmbH, which hold 60% and 40% of the shares in Nordic Paper respectively. The transaction is subject to approval by Chinese authorities and Anhui Shanying Papers' sharesholders.

Nordic Paper said there would be no changes regarding business operations at the moment, with Nordic Paper remaining an independet European company.

Nordic Paper operates four plants. In Bäckhammar and Åmotfors, the company produces unbleached kraft paper with a combined capacity of around 180,000 tpy while the sites in Säffle and Greåker produce greaseproof paper with a total capacity of around 65,000 tpy. Nordic Paper also operates two pulp mills in Säffle (capacity: 30,000 tpy) and Bäckhammar (230,000 tpy).

Anhui Shanying Paper is part of the Taison Group. According to Nordic Paper, its core busines consists of recycled fibre trading, kraft paper manufacturing, packaging, design, printing and logistics.

Source: euwid-paper.com

Nordic Paper is a leading Swedish-based producer of kraft and greaseproof paper. Three of Nordic Paper’s mills are located in Sweden, and the fourth one in Norway.

A China-based pulp and paper company, Anhui Shanying Paper Industry Co., LTD (“Anhui Shanying Paper”), has entered into an agreement to  acquire 100 % of the shares in Nordic Paper Holding AB from Special Situation Venture Partner lll and Petek GmbH.

The new owner, Anhui Shanying Paper, is a part of Taison Group. The company is listed at the Shanghai Stock Exchange since 2001. Anhui Shanying Paper has communicated to the stock market its intention to expand and diversify, both in terms of product portfolio and geographically. Today its core business consists of recycled fibre trading, kraft paper manufacturing, packaging, design, printing and logistics.

Nordic Paper will remain as an independent European pulp and paper company and there will be no changes regarding the business or operations at the moment.

The transaction is subject to approvals by relevant Chinese authorities as well as the shareholders’ meeting of Anhui Shanying Paper.

Source: nordic-paper.com